Reported Earlier, Howard Hughes Board Approves Plans To Spin Off Seaport Entertainment With 1-For-9 Pro Rata Share Distribution

Author: Benzinga Newsdesk | July 19, 2024 02:21am

Howard Hughes Holdings announced today that its Board of Directors has authorized and declared a pro rata distribution  of 100% of the outstanding shares of common stock of Seaport Entertainment Group Inc. ("Seaport Entertainment") to holders of record of HHH common stock as of the close of business on July 29, 2024 (the "Record Date"). The Distribution is expected to be payable after market close on July 31, 2024 (the "Distribution Date"). As a result of the Distribution, holders of HHH common stock will receive one share of Seaport Entertainment common stock for every nine shares of HHH common stock held at the close of business on the Record Date.

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